Millat Group Enters EV Sector with Electric Bike Manufacturing Plan
Millat Tractors Limited has announced that one of its subsidiary companies has signed a memorandum of understanding (MoU) with a leading Chinese electric bike manufacturer to assemble, manufacture, and market electric bikes in Pakistan. The company shared the development in a notice to the Pakistan Stock Exchange (PSX).
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The collaboration marks Millat Group’s entry into Pakistan’s growing electric mobility sector and aligns with the government’s National Electric Vehicle (EV) Policy 2025-30. The company said the agreement represents an important step toward diversification and will help expand its product portfolio while supporting sustainable transportation in the country.
Rising Fuel Prices Push Millat Tractors Toward Pakistan’s E-Bike Market
The move comes amid rapidly increasing demand for EV bikes in Pakistan due to rising petrol prices. According to market estimates, around 40,000 electric two-wheelers, mostly scooters, were sold in April alone. Established in 1964, Millat Tractors is Pakistan’s largest tractor manufacturer with an annual production capacity of 30,000 tractors and operations in engineering, power equipment, and industrial software solutions.
